Ingram Micro (NYSE:INGM) Shares Gap Down - Time to Sell?

Ingram Micro Holding Corporation (NYSE:INGM - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $21.84, but opened at $20.21. Ingram Micro shares last traded at $20.99, with a volume of 48,912 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group reduced their price objective on Ingram Micro from $29.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Morgan Stanley cut Ingram Micro from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $23.00 to $22.00 in a research report on Wednesday, June 11th. Jefferies Financial Group decreased their price target on shares of Ingram Micro from $28.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Loop Capital cut their price objective on Ingram Micro from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ingram Micro from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Ingram Micro has a consensus rating of "Moderate Buy" and an average target price of $25.71.

Ingram Micro Stock Down 8.1%

The firm has a 50-day moving average price of $19.74 and a 200-day moving average price of $19.93. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.40 and a quick ratio of 0.95.

Ingram Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a $0.076 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This is a positive change from Ingram Micro's previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%.

Institutional Trading of Ingram Micro

A number of hedge funds have recently bought and sold shares of INGM. California State Teachers Retirement System bought a new position in shares of Ingram Micro in the 4th quarter worth approximately $26,000. CWM LLC bought a new stake in shares of Ingram Micro during the 1st quarter valued at $26,000. Wells Fargo & Company MN purchased a new stake in shares of Ingram Micro in the 4th quarter worth $45,000. Cohen & Steers Inc. purchased a new stake in Ingram Micro in the fourth quarter worth about $48,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Ingram Micro during the 4th quarter valued at about $52,000.

Ingram Micro Company Profile

Ingram Micro is a leading solutions provider by revenue for the global information technology (“IT”) ecosystem helping power the world's leading technology brands. With our vast infrastructure and focus on client and endpoint solutions (formerly referred to as commercial & consumer, as described elsewhere in this prospectus), advanced solutions offerings and cloud-based solutions, we enable our business partners to scale and operate more efficiently in the markets they serve.